सिंहदरबार संवाददाता
Hemraj Dhakal has been raising issues in the interest of industry, trade and business rights for a long time. Dhakal, who is also the vice president of the Nepal Chamber of Commerce and Industry, was asked by SinghaDurbar.com editor-in-chief Narayan Poudel on the television program ‘Bank and Entrepreneur’:
You know, until some time ago, bank interest rates were high. It became difficult to get loans. It became difficult to invest. How to run industries. Nowadays, banks are calling to give loans at the lowest interest rate. In fact, why hasn’t the private sector gone to take loans? What is the reason? What did you see ?
There are many reasons. During Covid, the National Bank relaxed monetary policy a little. That was probably necessary. I wouldn’t call it negative either. All the industrialists and businessmen were staying at home. They had to pay their workers. They had to pay their staff. The bank had to pay interest. At that time, there was a lot of liquidity in the bank.
The bank also had to invest. The loan was also easily available and the private sector also provided the restructuring plan as requested by the National Bank. After giving that money, those who do business at home also went into land. It also went into shares. Or there was also a need for short-term profit. To sustain the business. Later, the Sri Lanka incident happened.
After there was no money to buy 15 days’ worth of goods in Sri Lanka, it seems that the construction agencies in our Nepal are a little more panicked. Now that the government is a little unstable, they must have realized more responsibility. At once, there was a thought that the bank that increases the premium from the working capital cap should be protected more. Of course, the bank should make a profit.
The bank must be protected. Otherwise, the economy may crash. But if we say 80, 81 percent, we do not protect the private sector that provides employment and contributes to the GDP, and its interest costs have increased. On the one hand, you don’t have a business, and the material was in Russian Ukraine at that time. And the price of the material had doubled. Due to the lack of skills, the logistics cost had also doubled.
You had to spend more on production, on the other hand, when interest rates also increased, that sustainable capacity of the private sector decreased. The private sector became defensive. You only had to pay the bank’s interest. And you didn’t go on the blacklist. You had to survive. You had to protect your honor. We thought that. If you had suddenly come and addressed it immediately at that time, there would have been some space for the private sector.
Now, even if interest rates have decreased, one thing is where to invest. Another thing is that all the youth have migrated abroad. Tourism has increased, but in Sri Lanka too, 8 million youth are out. But their tourism is worth 10 million. Either we have to be able to support the youth.
So, , We wanted to hear from you. Surely someone or something has some stake in the economy reaching this state. Nepal Rastra Bank , How much contribution do the Nepal government and the private sector have ? Because of which the economy is an opportunity today but no one is ready to take it. It has come to this situation.
No. The main thing is the government. The guardian is. I think the main responsibility is instability in the government. The National Bank also had to listen to the donor agencies. That is why the National Bank is a bit defensive, the Sri Lankan thing. There must have been shortcomings from other private sectors as well.
It is a question of whether we have used the money properly in unproductive things. But we were also working out in that. For example, we have to convince the National Bank to invest 10 percent in hydropower, 15 percent in agriculture, and 15 percent in small and medium-sized industries. But what we have not been able to do so far is how much will be given to industrial production? It has not been decided yet.
35 percent or 40 percent. If the bank had gone that far, jobs would have been created. There would have been sustainable growth. This kind of rhetoric. Sometimes they say there is a lot of liquidity. After 3 months, they say there is no liquidity at all. Because of the import-oriented economy, they could not focus on that. That and the price of materials, logistics prices, global inflation at the international level, recession, all of that seems to affect our banking channels.
So ultimatumism means that the products that we have with potential advantages are your water resources. Tourism is done. Agriculture is done. Now IT is done. In the next far-flung district, there are shops with a lot of entrepreneurial development, industries and commerce, small and medium enterprises. They say that 80 percent of them have a role. The products produced by those small and medium enterprises should be protected.
After you have said so much, now you have to say it. The government should do so much to make the economy dynamic to rise from today. The National Bank should be so flexible. And we here–##correct here. We mean the private sector. What did those 3 parts–##do ##do? ##how will Nepal’s economy move forward from this period of stagnation##?
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## We have also told this to the National Bank. The working capital cap that was imposed was used to shrink demand. Such an immediate shift in policy was not done. This economy is a liquid thing. While controlling and managing it, it has to be done step by step. And banks were given the right to take a premium of up to 6 percent.
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## That increased interest. Such a quick loosening and tightening should not be done. It should be done step by step. I have also been saying what the government should do. As the chairman of the substantive council, I am interacting with the main economic stakeholders. What do I understand from listening to their opportunities and challenges? Let’s take the example of India.
We have a liberal economy. Before Covid, notes were banned. What does India seem to have done well? Then they implemented GST. That is, they implemented a multi-rate tax system. It is time for us to reform our taxes here. 13 percent should be imposed on vegetables. Fruits should also be imposed. And stamps should also be imposed. That is not the case.
Taxes should be imposed in stages. Since we have an open border, it is difficult for us to stop illegal imports. It is also difficult for us to move separately except by going to India’s mechanism. But now, if we want to increase revenue, increase the tax base and protect our small and medium-sized products, if we want to protect our potential advantage areas, only 2-4 percent of such areas should be imposed on our production-oriented areas. And materials that come from abroad and are produced.
If you want to provide employment, you have to reduce it. Your luxury goods, finished products that are now there. For example, let’s take the case of leather shoes on the Indian border. I have heard that there is only 5 percent GST there. Now here it is 13 percent. All the things that were 5 percent are coming from here. Now we have seen warehouses on the border.
During that Covid period, the National Bank banned. To import liquor. Then there was the matter of small clothes, wearing. It was the matter of eating. There are many items. There are things of spices. There are things of stationery. These things come openly. That is why now we have to develop in a tiered system.
GST India brought. Where can we find such options? –##What can be ##?
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## GST can also be. This VAT can also be brought into a tiered system. That is, it can also be called sales tax. There is also a congestion tax. There are various practices at the international level. Whatever name you give, a tiered tax system is needed. Now, without revenue, we are not even able to spend on development and construction.
You said that India banned notes. You were saying that. There was a sign that it should be done in Nepal too ?
We said it once. Should we ban notes? Should we register assets? Let’s declare it once and do it. Now we are graduating in 2026. After that, our assets do not need to be registered. That country rating is also a demand of the private sector. That too has finally happened. The positive message has gone out.
But what has happened now? The external sector was all managed. We didn’t even have to take such a test. All the brothers and sisters returned a little during the Covid period. They had gone out. A lot of money came in as remittances.
Nepal’s economy is around 40 percent informal. It is being said. There is talk of LDC graduation. We are also discussing the FATF’s ‘#Grey#’# list. Some time ago, a statement was also made by the Governor. We are not risk-free. We need to be more conscious. It was something like that. More than 90 percent of the property of Nepalis is currently being practiced by the law. If we take it under our radar, it will appear illegal. The situation seems to be without resources. In the meantime, a topic of note ban, #Property self–#Declaration, #Recording has been done. In terminology. How important is the topic going towards that? #I would like to hear something from you by emphasizing that.
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## This is very important. I think, the Money Laundering Act came in 2062 BS. Should it have been documented when it came? At that time, it should have been done before bringing that rule. Now, what we are doing is explaining things to the international community a little, things that would remind the regulatory bodies. But if we say we are creating a transparency economy, creating a digital economy, bringing it into the formal economy, stopping smuggling, then we have to do it.
You have already indicated without doing it. What happens if an employee, politician or entrepreneur does not show 90 percent transparency? Not everyone can be prosecuted because the informal economy has been promoted so far by the government’s own policy. Now, if we want to make it formal, we need to take some steps. We are talking about introducing a tiered tax system and a loan law.
We are talking about amending the laws. We are talking about creating digital products. We are talking about creating a production-oriented economy. Our grants will not come until 2026. We are talking about our sustainable economic development. We are talking about a green economy.
We are going to the global stage. Yesterday, it was a country that ran on grants. For many years. Now, if we are going to support ourselves and compete with the global economy, then we have to document that property first, rather than purifying it. How much is it?
Should demonetization be made mandatory while doing that record keeping? ?
No. India did demonetization. There was a tax system. There was a borrowing law. There is also a borrowing law passed by the Council of Ministers recently. It has also come in the budget. The issue of digital economy came up. 50,60 acts were amended to make them private sector friendly. It had to be done quickly rather than lingering.
What will the private sector do now? ? #You have a responsibility, right? ?
## The private sector means that we are now profit-oriented. We are to provide employment. We are to contribute to the economy. We are to abide by the rules and regulations. We are to seek help from the government when we need it. And when we are going to prosperity, we have to pay taxes. We have to follow the rules. We have to create jobs. This is how we sustain Nepali youth. It is something that needs to be done to discover new kinds of innovation. The more we grow, the more jobs are created.
But you also got loans easily. Without even looking at the ability, without looking at the neck, he swallowed the bone. Hwar–##You took a loan on a loan. Where did you invest it? ##? ##It is said that a lot of land went into it. It went into shares. The shares have also sunk. There are no sales of land. There is no demand. That is why the problem arose. What will they say to those who say that they need to improve themselves? ?
No, that’s what it is. If there is a problem, a small vote of all stakeholders is everyone’s contribution. What do we mean now? Then we will run towards the possibility. We will work with challenges. We are a community that will work with risks. The situation at that time, which was even worse than that.
Raising interest rates, imposing prime rates. Such activities have further reduced internal demand. I think that the regular remittances that are coming to a country like Nepal are enough for 6 or 7 months. Even now, can we conceive that it has been 20 months?
If the average is 7 months, then the economy is said to be healthy ?
Let’s understand that as a dynamic economy. It has become conservative now. If you keep it for 20 months, the money that is saved for that month will not give a return. That is also a burden. You keep a development budget. You do not spend on development. That is a burden. What should the government do? Then the projects should be implemented on time.
Three-year projects have taken 10, 20 years. After completing that process, it had to be brought back into operation. There are still legal challenges. There is no seriousness. And the foreign exchange reserves have been kept for 20 months. If there is so much liquidity of 7 billion in the bank, why is it attracting the private sector? It is a state of fear now. It is not possible to get returns now.
There is political instability here tomorrow. What law will the National Bank bring again? What directive will it take? We will be trapped tomorrow. Instead, let’s do small work. Let’s reduce loans. Let’s stay safe, it has been said. A situation where we have to be afraid to take loans is not good for economic growth.
You were saying that the government did not spend on development. The project was not implemented on time. Right now, the government is at a loss. The government account is running in deficit. Construction entrepreneurs are in a situation where they have to cry and complain because they have not even been paid some amount. Due to all these events, on the one hand, resources will remain as a mobilizable dump. On the other hand, the government will not receive any revenue from us. It is difficult to pay salaries. It is in a dilemma as to where to invest money in development.
I think our regulatory bodies in Nepal already have a control-oriented mechanism, and the government is adding more to it. We are now in a capital-free state. We will let it flow. If there is a problem, we will call these stakeholders and make some amendments to it and regulate it. It will be service-oriented. Not control-oriented.
Now, even the organs of the government, all the regulatory bodies, feel that I am running the country. There is no inter-coordination. There is no coordination between the ministries. There are no regulatory bodies either. One person does not agree with the other. There was a problem related to land reform and forest at the investment conference. The private sector, including the Federation, lobbied to amend the law because there was a problem to bring investment.
The directive for the amended law has not been made yet. The staff system is not being created. Or it is not known where it has stopped. And if that directive has not come, it says we cannot do it. The law has come. There is no need to wait for the directive. The law has clearly said. It should be made, the role of which ministries or departments should be defined, then it should be done. It is a 10-15 day task. It will be passed by the cabinet.
I think when I listen to you. Private sector entrepreneurs and businessmen who invest. Provide employment. Pay taxes. The government and politicians who look at them are not very positive, but these profit-earners are criminals. That is. Even if you go to government agencies, the same trend is now slowly spreading and ordinary citizens will also earn private sector profits. They have stolen that property from us. Has society reached a point where they think that ?
People who do politics should come with votes from the society. They also get the opportunity to understand how they interact with all stakeholders. They are not that friendly towards the private sector. But they have failed in reforming the permanent government structure that they are currently in. What the employees also have is that on the one hand, there is a tendency not to work due to the authority and various bodies.
On the other hand, they also complain that the authority is involved in everything. We worked. The authority will come. That is what they say. That is why there were many institutions to regulate the government machinery. There were also many to regulate the private sector. We thought that we should control it rather than grow it. It became even more so after Covid.
Because of this, the wearing capacity of the private sector to invest or take risks has also increased. And that kind of atmosphere did not exist. So what we have told the government is that from the economic debate to the Investment Summit or the High-Level Tax Reform Committee, a High-Level Economic Reform Committee has been formed under former Secretary Rameshwor Khanal. It seems that he has worked hard.
He is going to district after district and collecting. He has submitted the primary report. There are two or three good things in it. For example, in these three pillars of the economy, a cooperative has collapsed. It should be allowed to run for 2 years, not closed. Is there a practice here that no matter what happens, it cannot be done. If it cannot be done, then corrections should be made in the economy. It has also been said there that another borrowing law should be brought to revive it.
It has been said that development expenditure there should be increased. If that doesn’t work, take a loan from the National Bank or from abroad, IMF to World Bank are ready to give it at cheap interest. Now it seems that the government has raised the domestic bar. Why not take external rather than domestic. Where to invest with that? Invest in products? That is why it is important to be able to make a fuss. There is no need to be afraid to take a loan.
If we do not take a loan, the country will not be able to run from 2026. We are talking about double digits. And our domestic investment alone will not exceed 3, 4 percent. If there is a growth of 9, 10 percent, we have to take a loan. But we have to invest money in the right land. We have to do it on time. And it has to be produced. For example, there was the matter of the Raxaul Kathmandu train. There was the matter of Kerung-Kathmandu. We have to do game-changing work that guides such infrastructure.
The Economic Reform Commission has done such things, but it will still come. Why did the price charged increase so much? When the infrastructure of the hospital, which is becoming a health hub, is not able to train doctors. When it is a college, it is not able to train nurses. Everyone goes to the border. And how to reduce the hardship of business? How to increase the tuning of inter-ministerial bodies? How to make the private sector viewed by the regulatory body positive? How to record property? All these things will also come.
That is the primary of the past. That should also be done. If we want to open the demand that drives the economy that I see, we must expand our tourism extensively. So many hotels have also increased. I don’t see Pokhara and Bhairawa airports not functioning. I see them functioning.
But the situation of the airports is like this. Pokhara and Bhairawa are not functioning. How will tourism also function and then ? It seems to be in a political trap. The Chinese come and have a dragon boat race in Fewa Lake. We have cried and cried because India did not give permission for flights ?
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## This is the old growth of Nepal. Sometimes China showed it. Sometimes India showed it. What should we do with the thought of not working? After the Second World War, Japan was devastated. The one who devastated it. Didn’t we grow with its support? Didn’t we forget that history and look ahead? We didn’t win the war, didn’t we win the economic war now? Didn’t we become a second economy? That’s why we say this politics is a matter of management.
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## Now Nepal also has Himalayan Airlines. There is Buddha Airlines. There are so many capable airlines. Don’t let them operate that airport. If you go to China, India, America, all the state airlines are there. The state government has given the state airlines there. We have gone to decentralization. We have gone to federalism. Nepal Airlines has not been able to run well. Why did Nepal Airlines have to give all of them.
There must be things to reform that. Recently, the airport has also been separated by operation and regulation. Since it has not been separated, the Europeans have put it on the backlist. That much infrastructure has been created. If these two airlines or Nepalese ones cannot manage it, then let another foreigner manage it. It will also bring the airport. It will also bring the airline. It will also bring passengers.
It will also open hotels. It does everything. It has been done. That is a practice. Didn’t Air India give it to the Tata Group? Nepal Airlines should also be given to competitive companies. It is not that the country will not be taken by someone if someone comes and stays in this day and age. We have to take the positive side in the right way. Companies are supposed to make a profit.
There is no benefit in going into these things in detail. The government should have the courage to immediately announce this tiered tax system and loan law. One government advances a little. Another government advances a little. It is not like it should be announced all at once. The directive should have been made in 10, 15 days. And there should have been a policy that would be implemented immediately.
Earlier, you used to indicate the price of real estate. One of the roots of all these problems in the economy is our obsession with real estate and our concentration of investment. Because Kathmandu and its surrounding areas, have become equal to the land of the most expensive cities in the world. How much does this mean?
There is a reason for this. There is history. One is that we are a country with high mountains. As a country with many mountains and hills, we have a low productive length. What have we built? I would say that the bank has increased it. The bank also had to give collateral for a project. And the project also had to be good. But almost two times the land was needed as collateral.
The project is not being considered that much. Then the bank itself looked for land as collateral, and all the entrepreneurs and businessmen would have taken the land first. If others took land due to instability, if they could not repay the loan tomorrow, they would sell the land and pay. That idea also developed. The price of real estate is increasing every year. Core investment, like gold investment, has become a nightmare.
Therefore, the National Bank or the banks had to shift it. They will have to make a long lease and borrow for seven generations. That industry and the bank are things that run on profit and loss. Sometimes it may be bad. That too had to be taken as normal. It had to be easy to establish and close the industry. Doing business is not about committing crimes or stealing.
This is an important part. If the economy is not dynamic, there will be no peace and security in the country. But national policy will not be managed. It will not be respected on the world stage. Politics will not be stable either. The economy is the common property of all parts of society, stakeholders. The National Bank, the Ministry of Finance, the Prime Minister’s Office, the Ministry of Land Reforms, the public and the private sector.
We could see it that way. If we could make the horizon a little bigger, there would be a small economy. Even before, there was talk of closing the border when there was an earthquake. Corona happened. We have overcome major disasters. Even now, if we can bring 2-4 solid policy packages, it will not take even 6 months for Nepal’s economy to revive.
You mentioned the stimulus package. The government is in a state of not being able to pay its pre-existing obligations for development spending.
We are currently against the stimulus package, which is an incentive to boost the economy. Social security allowance is also an unproductive thing. It is right to give it to those who have it. Should we select and give it to those who need it, the elderly? It was called a social allowance to be given after reaching such an age. Similarly, we kept investing in a project for 20 years. We kept giving it to social security. We could not increase revenue, increase the tax base. We took loans on top of loans and went into distribution. It is good to take loans.
But then again, sometimes we take loans and not just for distribution. Did we spend more on building towers and palaces than on development projects?
We did not take loans and invest in unproductive things. The private sector also went into shares and land after Corona. That too is not unproductive. Talking about shares, more than 6 million people have filled the demand for them. At that time, there were shares and people used to earn income by sitting at home. They were able to suppress the Corona outbreak. I would not say otherwise about what the National Bank did at that time. But the correction should not be done all at once but gradually.
Even now, we have potential. Should we highlight the potential or not? Like the borrowing law that was introduced in this last budget. By now, that law should have been made. The guidelines should have also come. It is time for the next budget. Why don’t we do it? Why will it improve automatically? We have so many mechanisms. How many countries have used it?
We also have politicians. Bureaucracy, private sector, regulatory bodies. Everyone had to be removed from their respective places. We had to work by linking the responsibility we received to the results.
There is a proverb in Nepali, ‘ Who will bring the water of Padhera in a queen’ Everyone was watching this.
No. We are not that negative. There is still a possibility. We had to think a little bit about service delivery. We had to do things to raise the morale of the private sector.
You said private sector, private sector. We are talking about this area. Banks are also the same private sector, you who do business are also the same private sector. But often you stand on different– different levels. They accuse each other of not helping each other. Why has this day come? ?
Banks were also opened by entrepreneurs. According to the guidelines of the National Bank, the board should not interfere too much. The CEO and management have been given more authority. Even though it is your investment, your investment is only 11 percent. Almost 89 percent is from the people. That is why it seems like there are two sides. And in the meantime, things have come up to separate entrepreneurs and banks in Bafia.
Is it possible to separate entrepreneurs and banks in Bafia? ?
Very possible. Why not? It will take some time. It does not require much work. It has been said that one cannot sit on the board for more than 2 terms. Again, the National Bank itself has said that the people have brought so much money. Who will protect it? It has been said. This is a public company that has already gone through an IPO. And only in our country have I not received any notice.
Why did this ordinary and promoter shares have to be separated ? The right to property is given in the constitution. There are two rights in property ownership ? For example: The 100 rupees invested by the promoter should still be 100 hundred rupees. And after investing for 20 years, that 100 became that business ? And the person who recently bought ordinary shares sells them for 300, in a week ?
First, the company has not done it in Hydro during the stable time. Hydro has not been ordinary for 3 years. If the bank needs more, let’s keep it for 10 years, 7 years. And that will automatically exit, right? Why did the entrepreneur and the banker have to be separated?
The practice we are doing of promoters and public shares. If we want to separate them and make the shares public in a short time, can the banker and the entrepreneur be separated? ?
It will separate. It will separate itself. No need to make a fuss. If it sees that investment protection will be good for it, it will stay. Otherwise, it will go wherever there is investment potential. And all the professionals will come and run the bank. Moreover, the promoters who do equity investments in the private sector will not be blamed. First of all, they are not even experts. Tomorrow an expert will come to the bank.
If a time frame of several years is specified in this case, will it be okay to go to execution ?
In my opinion, if it is 3 years, then it will be 5 years. In the 5 years of the stable period. 5 years can be made into 7 years, 10 years, 12 years. In Bafia, the bank does not say how many years it has been in operation that the bank has been stable. Some banks have been able to go immediately. There are new development banks. There are finance companies. There are also microfinances.
Banks are almost gone. Why wait after 10 years? They may not go. They will give an option. If those who invest in the bank feel that it is right, they will stay there. But we are arguing a lot about separating banks and entrepreneurs. That is not necessary. I think it will be given after 10 years. The National Bank will say wait another 1-2 years. It is a regulatory body.
We are ready to accept that the amendment to the Bafia will be passed. That chapter will be completed. And the screening will be done automatically. The people have also migrated abroad. The only thing they can invest in is shares. The people have also looked for a place to invest. The people have also developed entrepreneurship or invested in industry, but the current environment has not created an atmosphere to take that risk. So, any entrepreneur or businessman would have gone to the bank to invest.
They openly go to the industry. They go wherever there is a place. The company that has issued such an IPO should belong to the people.
You represent the Vice President of the Federation of Nepalese Chambers of Commerce and Industry. The statute of the federation has been amended. What is the meaning of this? ? ##Soon##-##Soon the amendment was made. It was said that the seniors would be made automatic. 1##, ##After the practice period, it came back to its full place. Some posts were added. Is this just the management of the federation’s politics or is this amendment to the statute also a tool to make the private sector more viable? ##?
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## We have done it. The situation has been completed through the office bearers’ committee, standing committee, working committee and special general meeting. Everyone has an opinion on it. That too had to go to the government. The cabinet had to pass it. The process is long. If you listen to the private affairs of the country, the impact of the situation in the country is also visible in the federation.
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## It is not that the statute has been amended, but that it is not that it cannot fulfill its responsibilities. Today, when it is directly the chairman, there has been more politics. The election has become even more expensive. It was made so that after sitting for 3 years as a senior, he would learn from the chairman and mature, make his own vision and plan and implement it.
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## That was not bad in itself. It is not bad now either. Every time a president comes to the federation in every term, the agenda of amending the statute is raised. No other work needs to be done. It is not as if everything will be fine after amending the statute. The statute has been amended. That is good. But the statute should not be amended in a hurry. Whatever the statute, the person who works will work.
The person who does not do it will not do it no matter what post he is given. I do not think this should be taken seriously.
Long story short. If you feel that there are still so many topics left, you can say ?
In fact, political leadership is needed to refer this permanent government or to talk about the leadership to increase the leadership while working responsibly without damaging their intentions. Another issue is consumerism. 46 percent is not necessary for us. From tea to coffee, industries are being operated on lease. As seen in India.
Tea and industries are not on private land. The previous government has decided to set up service industries as well. SEZs have now been occupied, Simara and Bhairawa. Now it is Panchkhal’s turn. All should be in big provinces and cities. Large industrial centers like Damak should be built. Cheap land should be available. 100-year lease should be available.
Instead of keeping the forest empty like that, it should be made into a commercial forest. 25, 30 percent should be used for other products. And if our budget focuses on areas with potential, tourism, hydro, agriculture and other things by amending the law, employment will also be provided.
The skills of people who have returned from foreign employment will also be developed. And the other thing is that the private sector is being attacked everywhere regarding the restriction. What should be done about it? Will the government take more revenue? Now it has been said that it will not even be able to take loans from banks.
Will it get 60 percent from the bank? Will it get 70 percent? This confusion should not be allowed. The controversial issues should also be taken into consideration for decision-making, to gain the confidence of the private sector and to stop capital flight. And the government does not find it difficult to invest here for 10 years. It has made it unbearable. We can explain such pending issues in writing or verbally.
If that is correct, there should be no delay in implementing it. A strong government should do these things quickly. Economy is not only about the government and the private sector. So let’s work together for economic prosperity. The honor of the country lies in this.
प्रतिक्रिया दिनुहोस्